Do agents promising a 1% commission rates actually do a good job in representing sellers? Let’s find out.
Having been in the real estate industry for 34 years now, I’ve seen a number of trends come and go. One of these trends, which we’re seeing again now, is an influx of agents advertising that they’ll sell your home for an extremely low commission rate, like 1%.
The truth about these agents who offer low commission rates, though, is that they either won’t be able to sell your home for that rate or that they’ll do a poor job if they do. This low advertised rate is essentially a version of the old “bait-and-switch” tactic. They bait you in with the low commission rate and then once they have you on the line, they’ll tell you what listing with them at this rate will really cost you.
The old adage “you get what you pay for” comes into play here. When you pay an agent 1%, they won’t offer you the level of marketing your listing needs and deserves. If you want the agent to do much more than to set up a lockbox and put a sign in your yard, it’s going to cost you much more than the 1% rate they lured you in with.
“If you want the agent to do much more than to set up a lockbox and put a sign in your yard, it’s going to cost you much more than the 1% rate they lured you in with.”
A major part of these agents’ business plan is to use the signs in your yard to lure in more clients. They don’t care about getting your home sold. All they care about is finding clients, shifting them around, and bringing in cash flow without turning out the results they promise.
If you have any other questions, would like more information, or are thinking of selling and would like a real, top-quality agent to represent your listing, feel free to give me a call or send me an email. I look forward to hearing from you soon.